Facebook reviewing FTC antitrust lawsuit
A DC district judge in July gave the FTC an extended deadline to file an amended lawsuit
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Facebook on Thursday said it is reviewing the Federal Trade Commission's amended lawsuit alleging the social media platform has engaged in anticompetitive behavior.
A D.C. district judge in July gave the FTC an extended deadline to file an amended lawsuit after dismissing its initial complaint filed in December of 2020 as "legally insufficient," saying it did not support the claim that Facebook violated antitrust laws.
JUDGE EXTENDS DEADLINE FOR FTC TO REFILE FACEBOOK ANTITRUST SUIT
"We are reviewing the FTC’s amended complaint and will have more to say soon," Facebook said in a Thursday tweet.
The FTC announced its amended lawsuit on Thursday after a 3-2 vote to refile the complaint, according to a press release.
"Facebook lacked the business acumen and technical talent to survive the transition to mobile. After failing to compete with new innovators, Facebook illegally bought or buried them when their popularity became an existential threat," Holly Vedova, FTC Bureau of Competition Acting Director, said in a Thursday statement. "This conduct is no less anticompetitive than if Facebook had bribed emerging app competitors not to compete."
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She continued: "The antitrust laws were enacted to prevent precisely this type of illegal activity by monopolists. Facebook’s actions have suppressed innovation and product quality improvements. And they have degraded the social network experience, subjecting users to lower levels of privacy and data protections and more intrusive ads."
Facebook has until Oct. 4 to respond, according to The Wall Street Journal.